The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1887-04-28
VALLEY AND CONNECTION.
Annual Meeting of the Valley StOOkhOId'
ers In Cleveland.
The Financial Statement shows Good In
crease in Earnings % Ulcers Elect
ed--Ths Cleveland q canton
Fight Going On.

The Cleveland Plain Dealer furnish es
the following account Of the annual
meeting Of the stockholders Of the Val
ley Railway, held In Cleveland Wedhes'
day:
From the report submitted by the
board Of directors at the annual me ct
ing meeting of the Valley Railway held
Wednesday mnrning In the Auditors Of
fee In this city II appears that the gross
earnings for the year ending December
81, 1855, were $628, ,44g 81; the operating
expenses we're 324 59296; the net earn
tugs were $303, ,857 vi; surplus, after pay
lug interest and taxes, $3Y, IA %; show
ing, as compared with the year 1885, an
Increase Of q O,s earning VI $59, ,207 70
an increase of operating EXPENSES OI
$I6,847.20, an increase of net earnings
of $42.4IU So. 1000. sas..s..ar.
DurIug the year the board has, by the
sale Of bonds, paid off part Of he float
lnx debt, on which the road was paying
q high rate of interest, and reduced Tie
rate Of interest on another Part, 80 thai
il is now paying 10 more than pei
cent. on any part Of the deOt, except the
first mortgage bonds. EauR - =
The assets of tne'rOBd are: COD5lI uc'
tiOn of rOad, $4 $40 $50 IS; equipment
$3.50 1884 SO; supplies Oh hanO, $23 69O.48
bills receivable. $9,267 80; 1ue iron
agents and conductors $l2,3Y4 70; cur
rent deDit balances, $49.U 50; cash or
hand, $27, 1877 80; Total, 10 212 552 10.
The liaOlntles are: CsplttI stOcE
paid In 81. .l58,047 SO. BoLded debt, fiVst
mortgage, thirty year bOnus, due 1906
interest Z per cent, payable June RnC
December, 81, 800 ZOO; consolidated mOrt
gage, forty year bOn0s, due 1921, inter
est per cent, paying March ano Sep
tember, $l,490U00; accrued interest
bonds mot duel $34,7SS 46; Temporary
loans for construction snd eqnipme eDt
$808, ,848 go; audited vouchers, $54 Also
current cIe0it balances, $16,322.2 .26, In
come account, $lO,23021. TOIsI $5. 272,
552,95.
The receipts were: Cash on hand
January l, 1856, $37, 7,662.12; from capita
stock, $3.50; from sale of bonds, $52l COO
net earnings, $3O3,8570l. TOtal, 1868,
1869 l3. ssa.s.,.,.ap.. a3s A.s, klO.
The expenditures were: COnstTuc
tion account, $l58,562 So; increase Of
supplies, $3,882.84; decrease OF net cur
rent cre0it balances, $16,2l6,55; de-
crease of floating debt. $392. 2.627.ll; In
terest and taxes, $264, ,742 Is ;cssh to bal.
aDce. December 81, 1855, $27,l37.33
Total, 1858, 1891.
The earnings we're: Freight, $780,
613 n; passenger, 1l6,02735; express,
ST. 854 98; mali, $5, ,532 40; miscellaneous,
$8,421.47; total, $62S, ,44997; operating
expenses (51.6 per cent J, 1924, ,592,96,
The net earnings amount to $303, $3.50
Deductions from income: lakes, $l4,-
$40 SO; interest, $3.50, l72 90; total, 1924,
742 78; net surplus $39, ,1l42S. gm
The number of passengers carried
during the year was 275,7l3, bringing
in revenue of $116,027, 1856. By the COM
paratlVe statement of earnings and ex-
penses for the past seven years, 1t is
shown that the net earnings per mile Of
the road are greater than for any preVi-
GUS year, being $4,O5l AZ, the next great.
est being in 1885, $3,46516. The show.
Ing is an exceedingly good one, which
may account for the fact that the an
nusl report of this year Is the first the
Valley railway ever put In print. At
the meeting Judge j. W. Underhill Of
Canton, presided. MessTs L. G. Smith
Of Greentown, o., Charles Peace of Rock
port, and B. G. Herrick of Akron, were
the judges Of election. Mr.. W. B. POr-
ter acted as secretary. There we're 10,-
184 shares voted, the only change In the
directory being that made by the with
drawal Of Mr.. Fl. M. Flagler and the
electi- of Mr.. L. G, Higgins.
The directors ale Messrs, j. 81. Wade.
s. T. Everett, Cleveland; d. L. King, Ak
rOD; L. v. BNckius, Canton; l., q. Hig-
gins, Il. B. P yGe, W. j, B0aTdmRn, L,
NJ. COe and John Tod, Cleveland.
After the stockholders meeting the
directors reelected the officers of last
year as follows: President, j. II. Wade;
vice president, D, L. King; treasurer, s.
T. Everett; general manager, Isaac
Reynolds; secretary and auditor, W P,
Porter. .t... ....
THE CLEVELAND 4 CANTON FIGHT
COLUMBUS, o. April 20--The Blood
faction are making desperate fight to
delay the hearing Of the Cleveland &
Canton railroad case, which began to
day before Mr.. Steele as master commits
slOner. They filed motion In the Sn.
Dreme Court to-day to take the case from
the referee to the United States Circuit
Court. This motion will be argued to-
As the annual election Of the
road takes place May 11th the Blood fac
tiOn are endesvOFing TO delay proceed
lngs, which will probably result in
thair hai0 N nuotod untiI oftnr fhok